Google will now help you get a bank loan in India

Posted August 29, 2018

At its annual "Google for India" event in New Delhi today, Google announced that Tez will be called Google Pay going forward as the company will look at taking Tez beyond India and hence has unified all of its payment offerings globally.

Google's Indian payments app, launched a little less than a year ago as Google Tez, has around 22 million monthly active users. Around 40 million new users come online in India every year, not just from metropolitan centers, but from rural areas as well, and latter on an increasing basis. A total of 750 million transactions are made with a total transaction value of $30 billion.

"Over time we'll bring many of these features to Google Pay users in other countries, just as we'll bring features we've launched elsewhere to India", Sengupta said.

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The company has partnered with four banks HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Federal Bank and is also actively in talks with different banking partners for the same. According to Google, the amount of online content in Indian languages is only 1 percent of what's available in English.

Listen to webpages on Google Go Google Go was introduced during last year's Google for India event.

For those unaware, Google Pay itself was announced back in January this year, and it started replacing Android Pay later in February. In March, Tez had added a chat feature allowing users to communicate with their contacts while sending and receiving money. The Assistant will now be able to read web pages out loud, not only in English, but in various Indian languages like Hindi, Bengali, Marathi, Malayalam and Tamil. In other countries, Google Pay users can add credit cards to their account for making payments through smartphones with NFC support. Sengupta said that while he did not want to compare that with anything, "it also reflects how much a part of people's life Tez is becoming".

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Google is working with big retailers and payments technology companies like Pine Labs to help merchants accept digital payments, he added.

The new feature is especially useful in instances where you need to do multiple tasks such as listening to your favorite national daily while cooking in the kitchen or hearing out a news roundup while commuting. Google Station is partnering Andhra Pradesh State FiberNet Limited to cover over 12,000 villages, towns and cities in the state of Andhra Pradesh, potentially reaching 10 million people.

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